IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

Yes

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 27 Jun 2018 | Removal date: 31 Mar 2020
Still in force

Trade finance

On 27 June 2018, the Indian Cabinet Committee on Economic Affairs approved a grant-in-aid of INR 1040 crore (~USD 151.19 million) to the National Export Insurance Account (NEIA) Trust. This aid will be split in 3 years, INR 440 crore (~USD 63.96 million) in 2017-18, INR 300 crore (~USD 43.61 million) in 2018-19 and INR 300 crore (~USD 43.61 million) in 2019-20.*

The NEIA was set up in 2006 as a Public Trust by the Indian Ministry of Commerce and Industry with the objective to support mainly medium to long-term export projects that are beyond the underwriting capacity of the Export Credit Guarantee Corporation (ECGC). Post the Global Financial Crisis in 2008, the NEIA's objectives were expanded to provided for short-term cover as well (see related State Act).

 

* INR to USD conversion as on 27 June 2018 - INR 68.79 / USD

AFFECTED COUNTRIES

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